“Risk comes from not knowing what you’re doing.” – Warren Buffet
Adopt the right financial policies
Organizations have to have help identifying opportunities and managing in fiscally challenging environments. Your institution can have all the funding in the world, but unless you have the right financial policies in place, your resources will only go so far. Planning for long-term financial success involves adopting a variety of policies and practices that must be individually tailored to your organization’s specific needs. Such detailed processes are an absolute necessity to maintain fiscal accountability and good standing in a variety of areas, such as employee reimbursement, conflicts of interest, accepting gifts and endowments, and the investment of assets. George & Associates can help you assess your current financial practices, eliminate redundancies, and streamline your accounting systems. Besides aiding in reporting and transactions, fiscal responsibility and transparency will strengthen your relationships with donors, contractors, accrediting organizations, and governmental agencies.
Without a fluency in budget creation and implementation, nonprofits will quickly find themselves either misunderstanding the numbers or drowning in them. This should be a process that resonates with the mission of the organization, representing the tangible effects you hope to have on the world. But the complications involved can overwhelm even the best prepared institutions. George & Associates has the right combination of industry knowledge and experience to navigate you through the harsh terrain of budget development and tracking. Our consultants can help you identify the key players in your budgeting process, including board members, financial committees, and stakeholders, and collect quality input that will lead to the creation of reality-based, goal-driven operating budgets, organizational budgets, capitalization plans, or endowment plans.
Finance and your staff
Setting up your employees for financial success will make their individual roles easier, stabilize their departments, avert crises before they become unmanageable, and allow for planned institutional growth. George & Associates can help in establishing these levels of financial accountability, including early flagging systems and a strict reforecasting process that will curb unexpected problems and keep your organization on track. We can also assist with training your staff or recruiting suitable talent to enhance your staff.
“I finally know what distinguishes man from other beasts: financial worries.” – Jules Renard
· Improved efficiency of the operations
· Identification of opportunities for expense savings and implementation of action steps (something which can be difficult to address internally)
· Improved external relations